Economy

CURRENCY DEPRECIATION: ONE REASON WHY YOU MUST BE CONCERNED

There are many things that are of prime concern for every nation. Currency depreciation is one of such. The implications of this situation can be beneficial and, in some cases, can be detrimental for any economy. For example, the recent currency depreciation that were experienced by Turkey and Argentina has greatly disturbed these two economies. To explain further, Consumer News ...

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Draw Lessons From Elsewhere To Revamp Banking Sector — Seth Terkper

Former Finance Minister, Mr Seth Terkper, has stressed the need for a review of the country’s banking laws to incorporate same practices as used in other advanced countries. “We need to make the necessary regulatory corrections and necessary statutory corrections, insist on proper oversight resposibilities by Parliament, and explore the possibility of placing the non-bank financial sector under a financial ...

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Ghana Revenue Authority To Undertake Excise Tax Stamp Enforcement

The Ghana Revenue Authority (GRA) says its enforcement task force teams will soon conduct unannounced inspection visits to enforce compliance of the Excise Tax Stamp Act. A statement issued by the Commissioner-General of the GRA said, products without the Tax Stamp would be detained and or seized and applicable sanctions imposed. The Act requires that Excise Tax Stamp be affixed ...

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Banking consultant supports enactment of Financial Stability Act

A banking consultant, Dr. Richmond Atuahene has backed calls for the enactment of a financial stability sector act to enhance collaboration among regulators in the financial space. The calls for the crafting of such a law followed the three day probe by Parliament’s Finance Committee into the banking sector crisis, which unearthed  the lack of collaboration among regulators in the banking, ...

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Cedi to hit 5 to a dollar as external pressures soar – Analyst

Some currency analysts are projecting that the cedi will continue its losing streak against major trading currencies until external factors influencing its performance, subsidise. The local currency has been depreciating against the dollar particularly for some time now with some analysts it will hit the 5 cedis mark soon. As at close of business on Monday [September 10, 2018], some ...

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BoG caps tenure of CEOs, directors of banks – New directive takes immediate effect

BOG new directive

The Bank of Ghana (BoG) has issued a directive to cap the tenure of the office of all managing directors or chief executive officers (MD/CEO) of regulated financial institutions at four years. However, this is renewable only for two additional terms of four years each. The new directive, which takes immediate effect, also restricts the tenure of office of non-executive ...

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THE VILLAGE GIRL MAKING GLOBAL IMPACT

Hamamat

Hamamat African Beauty is making waves in the country’s business climate by being the first online-based retailer to ship freshly handmade shea butter directly from Ghana to the world. The brand, known for its collection of natural African skincare products, was founded by proud Ghanaian native and former model and beauty queen, Hamamat Montia. A dynamic individual and a source ...

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PERSONAL FINANCING: WHAT IT IS AND HOW IT CAN HELP YOU

We tend to receive money almost every time. Students receive money when going for school. Salaried workers receive money when time for compensation is due. In much the same way, the woman who operates a provisions store or the one who sells at the market receives money after a day’s work. But it is sad to note that people still ...

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Ghana Cedi is worsening against the Dollar

west africa

Historical Exchange Rates – 14 Aug 2018 USD to GHS 15 Jul 2018 to 14 Aug 2018 Minimum 4.6787 Average 4.7544 Maximum 4.8708 14-08-18 4.8708 13-08-18 4.8133 12-08-18 4.7851 11-08-18 4.7851 10-08-18 4.7534 09-08-18 4.8037 08-08-18 4.8076 07-08-18 4.7067 06-08-18 4.7095 05-08-18 4.6787 04-08-18 4.6787 03-08-18 4.7285 02-08-18 4.7285 01-08-18 4.7285 31-07-18 4.7285 30-07-18 4.7285 29-07-18 4.7135 28-07-18 4.7135 27-07-18 ...

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Ghana’s 2018 Economic Outlook Positive but Challenges Remain

economy

Ghana’s macroeconomic performance improved in 2017 and 2018 Mid-Year after a difficult 2016. The country’s economy expanded for the fifth successive quarter in September 2017, at a rate almost double that of 2016, according to a World Bank report released on March 5, 2018. The 3rd edition of the Ghana Economic Update, which focuses on agriculture as the engine of ...

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